Smart Cities Market Research Report Provides The Newest Industry Data And Industry Size, Share, Future Trends, Allowing You To Identify The Products And End Users Driving Revenue Growth And Profitability.

The global smart cities market is expected to reach a mark of USD 3,000 million by 2024, at a CAGR over 21% during the forecast period. Significant growth in next-generation technologies such as artificial intelligence (AI), personalized healthcare, sustainable energy generation and robotics are driving the smart cities’ future. Moreover, increase in residential preference towards adoption of advanced information and communication technologies (ICT) escalates the future market growth.

With the rise of innovation and digitalization of industry applications, particularly in the residential sector, countries across the globe are actively looking for solutions to balance economic, technological and social development. With increase in population, data is also becoming more readily available now-a-days. Communities are turning to innovative information communication technologies (ICT) to re-imagine the way in which people of the residents live, work or play. IoT is playing a significant role in driving safer and smarter cities from changing the vision into reality.

The market overview section of the report demonstrates market dynamics such as drivers, restraints, and opportunities that talks about the current nature and future scenario of the said market, key market indicators, end-user adoption analysis. Further, key market indicators included in the report provide the significant factors which are capable to define the market position of global smart cities market.

As per the research, hardware components have been the largest revenue generators in the global smart cities market, as compared to others. Also, among various types of applications, smart governance was the largest revenue contributor in 2017. Moreover, among the smart utilities category, smart energy applications is expected to continue contributing the largest revenue, during the forecast period

Europe has been the largest revenue contributor to this market. According to the research, the region is expected to lead this market over a longer period. Cities in Europe such as Italy and the U.K. have been deploying smart cities solutions from ages, which makes the region forerunner in this industry

However, the markets in Asia-Pacific, particularly cities in the Asian region are expected to witness fastest growth during the forecast period. The upsurge in urbanization, along with purposed investment in smart cities coupled with changing consumer preferences, is expected to boost the growth rate of smart cities market in the region

Research Methodology

Extensive secondary research was conducted using paid data sources including Bloomberg, Factiva, Capital IQ, OneSource, and Hoovers. Additionally, several publicly-available data sources were used including journals, statistics articles, and industry associations. These data sources were used to gather relevant information to develop an understanding on the global aerosol market.

The research was conducted covering the desk research and primary research. Data sources used for primary research included online forums and blogs, CATI/CAWI, CAPI interviews, and video conferences. Additionally, interviews were conducted through connecting with various industry respondents including C-level executives, directors, divisional heads, regional heads, expert consultants, and independent consultants. The primary research was conducted to gain market insights from industry respondents and validate the gathered information through desk research.

Competitive Dynamics

Many new players have entered into this market along with several small and medium players. The leading players are focusing especially on technological improvements through organic and inorganic growth strategies. Some of the major companies operating in this industry include IBM Corporation, The ADT Corporation, Cisco Systems Inc., Oracle Corporation, AT&T Inc., SAP SE, Intel Corporation, General Electric, Schneider Electric SE, and Xerox Corporation.

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